Cryptocurrency exchange Kraken announced on Nov 30, that it has made “one of the hardest decisions” to cut down its global workforce by approximately 1,100 people, making up approximately 30% of its total workforce, amid current market conditions. According to the CEO and co-founder Jesse Powell, Kraken had to triple its workforce due to the fast-growing crypto ecosystem, and the current pullback takes the company’s team size back to where it was 12 months ago. Powell shared in a tweet; "Macro was already tough and we held out but recent industry woes diminished near-term optimism about a crypto bound." Rough …

Bitcoin (BTC) has shrugged off the weakness in the United States equities markets and is attempting to start a recovery on Nov. 30. Buyers are attempting to achieve a monthly close above $17,000. This suggests that the selling that had picked up due to the FTX crisis may be reducing. Usually, smaller investors panic and dump their holdings in a bear market but it has been the opposite with Bitcoin investors. According to Glassnode data released on Nov. 27, investors holding less than one Bitcoin, also called shrimps, bought 96,200 Bitcoin since the FTX crash. Along similar lines, investors holding …

Fantom (FTM) continued its upward momentum on Nov. 30 amid reports that the Fantom Foundation generates consistent profits and has 30 years of runway without having to sell any FTM tokens. Fantom's FTM holdings up from 3% to 14% FTM price gained nearly 13.5% to reach $0.24, its highest level in three weeks. The rally came as a part of a broader rebound trend that started when it bottomed out at around $0.17 on Nov. 22. This amounts to a 50% price rebound in the last eight days. Interestingly, the rally picked up momentum after the Fantom Foundation's "Architect," Andre …

Bitcoin (BTC) briefly returned to $17,000 into Nov. 30 as monthly close volatility loomed. Trader: $17,500 monthly close "most bullish outcome" Data from Cointelegraph Markets Pro and TradingView showed BTC/USD following traders’ predictions to sweep higher levels before consolidating. Highs of $17,072 appeared on Bitstamp, with the pair nonetheless unable to flip the highs to support. At the time of writing, Bitcoin hovered around $16,900. $17,000 marks a key range for bulls to reclaim, Cointelegraph reported the day prior, and until this happens, the status quo remains. “$BTC bulls want to hold 16.8k as first counter trend S/R flip. Back …

Ether (ETH) rallied 5.5% in the early hours of Nov. 29, reclaiming the critical $1,200 support. However, when analyzing a broader time frame, the 24% negative performance in the past 30 days significantly impacts investors' sentiment. Moreover, investors’ mood worsened after BlockFi filed for bankruptcy on Nov. 28. Newsflow remained negative after the United States Treasury Department's Office of Foreign Assets Control (OFAC) announced a settlement with Kraken exchange for "apparent violations of sanctions against Iran." In a Nov. 28 announcement, the OFAC said Kraken had agreed to pay more than $362,000 as part of a deal "to settle its …

Bitcoin (BTC) bulls were hopeful that the Nov. 21 dip to $15,500 would mark the cycle bottom, but BTC has not been able to produce a daily close above $17,600 for the past eighteen days. Traders are clearly uncomfortable with the current price action and the confirmation of BlockFi's demise on Nov. 28 was not helpful for any potential Bitcoin price recovery. The cryptocurrency lending platform filed for Chapter 11 bankruptcy in the United States a couple of weeks after the firm halted withdrawals. In a statement sent to Cointelegraph, Ripple's APAC policy lead Rahul Advani said he expects the …

Bitcoin (BTC) hodlers have capitulated more than at almost any point in Bitcoin’s history this month. Data from on-chain analytics firm Glassnode confirms that the November 2022 BTC sell-off was the fourth-largest ever. Bitcoin investors see multi-billion dollar loss In the latest edition of its weekly newsletter, “The Week On-Chain,” Glassnode got to grips with the impact of the FTX debacle on BTC investors. The results have been mixed, it reveals, with a major loss of confidence on one hand triggering loss-making divestment of funds, while “strong accumulation” has also occurred. For those entering BTC in current conditions, however, life …

Chainlink (LINK) looks poised for 25% price rally in the days leading up to its staking protocol launch, based on several fundamental and technical facto. Chainlink price rallies ahead of staking launch The staking feature, which will go live as v0.1 in beta mode on Dec. 6, comes as a part of the so-called "Chainlink Economics 2.0" that focuses on boosting LINK holders' reward-earning opportunities for "helping increase the crypto economic security" of Chainlink's oracle services. Earlier, Chainlink users had to launch their own nodes to receive rewards in LINK tokens. The staking feature effectively opens new avenues for them …

Bitcoin (BTC) held crucial $16,000 support into Nov. 29 as bulls weathered ongoing FTX fallout and macro triggers. Trader teases BTC long as $16,500 reappears Data from Cointelegraph Markets Pro and TradingView confirmed BTC/USD leaving lower levels untouched overnight. The pair had seen a flash downturn after the Nov. 27 weekly close thanks to uncertainty from China over Coronavirus measures. A recovery nonetheless took the market higher, with $16,500 coming into play at the time of writing. As Cointelegraph reported, traders and analysts had warned that it was all but essential to preserve current support, with a violation opening up …

Crypto executives and politicians are becoming louder in their calls for crypto regulation as the aftermath of the FTX collapse continues to reverberate through the industry. In just the last 24 hours, the European Central Bank (ECB) president Christine Lagarde called regulation and supervision of crypto an “absolute necessity” for the European Union, while United States House Financial Services Committee Chair Maxine Waters announced that lawmakers will explore the collapse of FTX in a Dec. 13 inquiry. On Nov. 28, United States Senator and crypto supporter Cynthia Lummis described the collapse of FTX as a wake-up call for congress, according …

Being three weeks removed from the FTX collapse, Bitcoin (BTC) analysts are combing through data to decipher whether more selling will continue or if a bear market floor has been reached. One thing miners, short-term and long-term holders have in common is they are losing in the Bitcoin market right now. According to on-chain analysis from Glassnode, the scale of both realized and unrealized losses amongst Bitcoin holders is one of the heaviest capitulation events in BTC’s history. Capitulation is hindering all groups from the increasing number of bankruptcies and dwindling miner revenue. Bitcoin’s realized losses fourth largest on record …

Bitcoin (BTC) bears have been in control since Nov. 11, subduing BTC price below $17,000 on every 12-hour candle. On Nov. 28, a drop to $16,000 shattered bulls' hope that the 7% gains between Nov. 21 and Nov. 24 were enough to mark a cycle low at $15,500. The most likely culprit was an unexpected transfer of 127,000 BTC from a Binance cold wallet on Nov. 28. The huge Bitcoin transaction immediately triggered fear, uncertainty and doubt, but the Binance CEO, Changpeng Zhao, subsequently announced it was part of an auditing process. Regulatory pressure has also been limiting BTC’s upside …